The global skilled nursing facility market size reached US$ 328.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 516.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.74% during 2023-2028. The rising geriatric population, increasing focus on providing high-quality, patient-centered care, and extensive research and development (R&D) activities represent some of the key factors driving the market.
Skilled Nursing Facility Market Size in 2022
|US$ 328.8 Billion
Skilled Nursing Facility Market Forecast in 2028
|US$ 516.8 Billion
|Skilled Nursing Facility Market Growth Rate (2023-2028)
A skilled nursing facility (SNF) is an in-patient rehabilitation and medical treatment center that provides patients with efficient and quality care services. These facilities are typically staffed by licensed nurses and other medical professionals who offer medically necessary services of physical and occupational therapists, speech pathologists, and audiologists. SNFs are widely used for wound care, rehabilitation, long-term care, medication management, physical therapy, pain management, and assistance with daily living activities to help patients recover and improve their overall health and well-being. These facilities aim to provide a high level of care in a comfortable and supportive environment, thus allowing patients to regain their independence and improve their quality of life. They assist in lowering the risk of rehospitalization, providing personalized care plans, round-the-clock services, and emergency assistance, and reducing the risk of injuries.
Skilled Nursing Facility Market Trends:
The rising geriatric population that requires long-term care and rehabilitation services across the globe is one of the key factors driving the market growth. Moreover, the increasing incidences of various chronic diseases, such as diabetes and heart disease, are favoring the market growth. In line with this, the rising number of patients suffering from diabetes, stroke, high blood pressure, Alzheimer’s, and dementia is acting as another growth-inducing factor. Apart from this, significant technological advancements, such as the utilization of telemedicine and electronic health records, help in making it easier for SNFs to provide high-quality care to patients, which, in turn, is providing an impetus to the market growth. Additionally, many SNFs are introducing personalized care plans tailored to the specific needs of patients to ensure they receive the care they need to recover and improve their overall health is propelling the market growth. Furthermore, the widespread adoption of rehabilitation technology, such as robotic exoskeletons and virtual reality rehabilitation systems in SNFs, to improve the effectiveness of physical therapy and rehabilitation programs is positively influencing the market growth. Other factors, including the rapidly expanding healthcare industry, extensive research and development (R&D) activities, increasing focus on providing high-quality, patient-centered care, rising expenditure capacities of consumers, and the implementation of various government initiatives to encourage SNFs to improve their care delivery, with a focus on patient safety, are creating a positive outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the global skilled nursing facility market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on facility type, service type and ownership type.
Facility Type Insights:
The report has provided a detailed breakup and analysis of the skilled nursing facility market based on the facility type. This includes freestanding and hospital. The report has provided a det According to the report, freestanding represented the largest segment.
Service Type Insights:
- Intensive Rehabilitation Therapy
- Low and Medium Rehabilitation
- Medically Complex
A detailed breakup and analysis of the skilled nursing facility market based on the service type has also been provided in the report. This includes intensive rehabilitation therapy, low and medium rehabilitation and medically complex. According to the report, intensive rehabilitation therapy accounted for the largest market share.
Ownership Type Insights:
The report has provided a detailed breakup and analysis of the skilled nursing facility market based on the ownership type. This includes non-profit, for-profit, and government. According to the report, for-profit represented the largest segment.
- North America
- Asia Pacific
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for skilled nursing facility. Some of the factors driving the North America skilled nursing facility market included the rapidly growing healthcare industry, extensive research and development (R&D) activities, and the implementation of various government initiatives.
The report has also provided a comprehensive analysis of the competitive landscape in the global skilled nursing facility market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Brookdale Senior Living Inc., Extendicare Inc., Genesis HealthCare, Life Care Centers of America Inc., Lincare Holdings Inc. (Linde plc), ProMedica Health System Inc., SavaSeniorCare Administrative Services LLC, Sunrise Senior Living (Red Fox Holding Corporation), The Ensign Group Inc., etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
|Facility Types Covered
|Service Types Covered
||Intensive Rehabilitation Therapy, Low and Medium Rehabilitation, Medically Complex
|Ownership Types Covered
||Non-Profit, For-Profit, Government
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Brookdale Senior Living Inc., Extendicare Inc., Genesis HealthCare, Life Care Centers of America Inc., Lincare Holdings Inc. (Linde plc), ProMedica Health System Inc., SavaSeniorCare Administrative Services LLC, Sunrise Senior Living (Red Fox Holding Corporation), The Ensign Group Inc., etc.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the skilled nursing facility market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global skilled nursing facility market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the skilled nursing facility industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.